GH Research (NASDAQ:GHRS) Stock Price Crosses Above 200-Day Moving Average – Time to Sell?

GH Research PLC (NASDAQ:GHRS) shares passed above its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $21.47 and traded as high as $22.13. GH Research shares last traded at $21.50, with a volume of 345,103 shares traded.

Analyst Ratings Changes

Several brokerages have recently commented on GHRS. Cantor Fitzgerald raised their price objective on shares of GH Research from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Zacks Research raised shares of GH Research from a “strong sell” rating to a “hold” rating in a report on Thursday, August 13th. Guggenheim increased their price target on GH Research from $34.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GH Research in a research note on Thursday, October 15th. Finally, HC Wainwright reissued a “buy” rating on shares of GH Research in a report on Monday, August 10th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GH Research currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

GH Research Stock Performance

The company has a market capitalization of $1.43 billion, a P/E ratio of -20.86 and a beta of 1.32. The business’s fifty day simple moving average is $24.06 and its 200-day simple moving average is $21.50.

GH Research (NASDAQ:GHRS) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.29) by $0.06. As a group, analysts forecast that GH Research PLC will post -1.20 EPS for the current year.

Hedge Funds Weigh In On GH Research

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in GH Research by 43.1% during the first quarter. Royal Bank of Canada now owns 2,590 shares of the company’s stock valued at $36,000 after purchasing an additional 780 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in GH Research during the third quarter valued at $82,000. Farther Finance Advisors LLC grew its stake in shares of GH Research by 9,720.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,820 shares of the company’s stock worth $231,000 after buying an additional 9,720 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of GH Research in the 1st quarter worth $290,000. Finally, China Universal Asset Management Co. Ltd. grew its stake in shares of GH Research by 30.6% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,525 shares of the company’s stock worth $432,000 after buying an additional 4,106 shares in the last quarter. Hedge funds and other institutional investors own 56.90% of the company’s stock.

GH Research Company Profile

GH Research plc is a clinical-stage biopharmaceutical company focused on developing novel therapies for psychiatric and neurological disorders. The company is headquartered in Dublin, Ireland, and conducts research and clinical development activities through its proprietary pipeline of psychedelic-based medicines.

Its lead program, GH001, is an investigational inhaled formulation of mebufotenin, also known as 5-MeO-DMT. GH Research has studied GH001 in patients with treatment-resistant depression, with the aim of developing a rapidly acting treatment that may provide meaningful improvements following a short course of administration.